$GENETEC (0104.MY)$ Good of PROSPECT With the conclusion o...

$GENETEC (0104.MY)$ Good of PROSPECT
With the conclusion of the U.S. Presidential Election, the Group believes that the period of
uncertainty is now behind us, and our clients can now focus on executing their plan. As the
new administration takes office, we anticipate clearer policy guidance, which we view
positively for the Group. Projects which were put on-hold previously have now continued
and we are busy catching-up on those projects, while at the same time we have received
many new request for proposal (RFPs) from our clients.
As shared in the recent quarters, our team has been exceptionally busy, with our engineers
work closely with clients across their facilities worldwide – including in the North America
and Europe – on both upgrade initiatives and new development projects. Our proven track
record and unwavering support during challenging times have fostered strong, lasting
relationship with our clients, earning us a high level of trust. These deep connections have,
in turn, unlocked new opportunities across various segments within our clients’
organisations.
Further, as part of the Group’s strategy to broaden our client base and expand our product
offerings, we have participated in international exhibitions and trade shows, which has
generated valuable new business leads, opening doors to new industries and markets.
As a result, our business development team is working tirelessly submitting proposals,
attending clarification meetings with clients and prospects, while our engineering and design
team work at full force, delivering new manufacturing technology and solutions to meet our
clients’ needs.
Regarding our battery energy storage system (BESS) business, we are gaining traction in
the domestic market, albeit on a smaller scale, as users increasingly recognise the benefits
of the technology. We are also seeing growing interest in pairing BESS with new solar
plants, especially in connection with the recently announced Corporate Renewable Energy
Supply Scheme (CRESS) by the government. On the international front, we see potential
for recurring orders from our existing clients, driven by our strong project execution, track
record and the global trend of BESS implementation as part of the energy transition journey.
Against this backdrop, the Group is cautiously optimistic about our mid to long-term
prospects, and we look forward to updating our shareholders when we secure significant
wins.