Sunningdale Tech Ltd. has been cautious about capital spending during the past two years because of overcapacity issues in its key end markets, but now the company is getting ready to invest again.
The public firm in Singapore announced the plan Nov. 5, when it revealed its third-quarter financial results. Sunningdale reported its profit for the first nine months rose 13.7 percent, to S$6.2 million (US$4.28 million) compared with the year-ago period.
Sales dropped 9.8 percent to S$106.2 million (US$73.29 million), mainly due to lower sales in the consumer/information technology and telecommunications segments and tooling. Those decreases were partially offset by increased sales in automotive and health care.
Sunningdale Chairman and Chief Executive Officer Koh Boon Hwee said: ``We are beginning to see some benefits from our effort over the last few quarters to improve efficiency and control operating expenses. Having achieved this, we feel that it is now timely for us to grow our operations through prudent investment in new facilities and capacity.''
Sunningdale has won additional inkjet cartridge assembly lines, which will lead to expansion of its factory in Johor Bahru, Malaysia.