The electronic manufacturing services (EMS) provider surged as much as 23% or 30 sen to RM1.59, its highest level since December 2000. It pared its gains to close 15.5% or 20 sen higher at RM1.49, giving the group a market capitalisation of RM1.39 billion.

In an exchange filing today, the company said the order was for high-speed 800G optical modules and wireless access products that are expected to be fulfilled in tranches over the next 12 months.

The order was secured through its wholly owned subsidiary SMT Technologies Sdn Bhd from an existing client identified only as “Customer C” that contributed more than a third of the group’s total revenue in FY2025.

It described Customer C as a “global technology leader” with expertise in research and development, and manufacturing for high-speed optical modules, wireless access broadband, carrier ethernet and edge computing.

The group said the PO is anticipated to contribute positively to its earnings and net assets for the financial year ending June 30, 2026 and 2027.

All four research firms covering EG Industries have a “buy” call on the stock, with target prices ranging from RM1.70 to RM2.02 per share, according to Bloomberg.

“Securing an order of this magnitude marks a significant milestone for the group, providing strong earnings visibility while further strengthening our position in the high-value technology segment and supporting our long-term growth trajectory,” said group CEO Alex Kang, the company’s largest shareholder with a 17.2% stake.

The group remains optimistic about its growth prospects, supported by a strong order pipeline, expanding production capabilities and ongoing initiatives across both Malaysia and Thailand, it said in a statement.

Listed among the top 50 EMS players globally, EG Industries services leading brand names of electrical and electronic products for the consumer electronics, ICT, medical, automotive and telecommunications industries.

It has three manufacturing facilities in Kedah and Prachinburi, Thailand.