Management Discussion And Analysis
REVIEW OF 2022
In 2022, Coraza Integrated Technology Berhad and our subsidiary (Collectively, “Coraza”, “Coraza Group”, “The Group”, “The Company” and “we”) achieved record-high revenue and earnings despite significant challenges. The year was demanding and hectic, with the Company focused on ramping production capacity and enhancing capability, investing in new infrastructure, talent acquisition, expediting backlogs, and strengthening of supply chain management to mitigate disruptions.
Challenges included production capacity constraint, supply chain disruptions, fluctuations in raw material prices, and difficulties in talent acquisition and retention. Nevertheless, Coraza is in a good position to wave through the challenges by implementing manufacturing plant expansions, maintaining business continuity, and implementing a Material Resource Planning system to control costs and maintain product quality. The Company also engaged in extensive recruitment activities and provided employee amenities to attract and retain top talent.
With a highly skilled workforce and a focus on human capital, Coraza continues to expand and align its engineering capabilities with its business strategy. The Company’s robust strategies and proactive measures have allowed it to achieve remarkable success in 2022, including record-high revenue and earnings.
Coraza’s vision is to be a place that harnesses human potential, generating stakeholder value, and contributing to social development. The Company is driven by the core values of ethics and integrity, transparency and accountability, and passion and teamwork, which shape its culture.
As Coraza moves forward, its values and vision will continue to play a critical role in shaping its strategies and operations. By staying true to these principles, Coraza can achieve sustainable success that benefits not only its stakeholders but also society as a whole. The Company will continue to build on the momentum established in 2022, further strengthening its operations to meet the demands of its customers and stay ahead of the competition. The Company is confident that its dedication and hard work will yield long-term benefits, and it looks forward to the opportunities that lie ahead.
Coraza is a leading provider of integrated engineering services specializing in metal fabrication and assembly. We produce intermediate metal products for diverse industries such as semiconductor, instrumentation, life science, medical devices, telecommunications, and aerospace. Our value- added sub-module mechanical or electro-mechanical assembly services involve assembling intermediate metal products into frames, structures, or enclosures according to our customers’ designs and specifications.
BUSINESS OVERVIEW
BUSINESS OVERVIEW
Coraza is a leading provider of integrated engineering services specializing in metal fabrication and assembly. We produce intermediate metal products for diverse industries such as semiconductor, instrumentation, life science, medical devices, telecommunications, and aerospace. Our value-added sub-module mechanical or electro-mechanical assembly services involve assembling intermediate metal products into frames, structures, or enclosures according to our customers’ designs and specifications. We make use of various design tools to help our customers shorten their Time-to-Market (“TTM”) in the design phase. In addition, we adopt a proactive product development approach for our customers’ complex products to ensure highest product quality as well as shortest turnaround time of the products manufactured.
With funds raised through the Initial Public Offering (“IPO”) exercise, we have enhanced our capacity, capabilities, and service offerings to both existing and potential customers. We invested in the latest technology, infrastructure, and equipment to improve its operational efficiency and provide higher-quality solutions to its customers. We continue to enhance customer’s satisfaction as well as stakeholders through highest level of product quality, increase value add for our customers and promote cutting edge engineering solution. The IPO exercise has enabled Coraza to accelerate its growth strategy by tapping into the emerging opportunities not just in the semiconductor industry but also in 5G, life science, and aerospace market.
