Ingress corporation bhd will supply close to RM 70 million (US$ 22.9 million) worth of automotive components to national car manufacturer Perusahaan Otomobil Nasional Sdn Bhd (Proton) under two separate deals.

In a statement to the local daily on 7th December, Ingress said its wholly-owned subsidiary Ingress Engineering Sdn Bhd had recently received a letter of award (LOA) to supply RM 5.3 million worth of roof-drip moulding for a new vehicle model by Proton which is now wholly-owned by conglomerate DRB-HICOM BHD.

Under another LOA, Proton will also buy RM 64.4 million worth of door sash and glass-guide parts from Ingress Precision Sdn Bhd, another wholly-owned unit of Ingress, according to the statement.
"The projects are expected to contribute positively to the earnings of the Ingress group," Ingress said.

Ingress, however, said the supply of the components will only begin by the second quarter of financial year ending January 31, 2015.

In calendar year terms, this indicates the period between May and July, 2014. Ingress said both projects have a five-year duration from the date of commencement.

During the five-year period, Ingress said both projects will involve a collective investment of RM 12.15 million.

Of that, RM 350,000 will be earmarked for the roof-drip moulding project while the door sash and glass-guide parts contract will require an RM 11.8 million outlay, the firm said.