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Secondary revenue stream for MSB worth tracking, outdoor telecom cabinets and electrical parts. With Malaysia's 5G rollout continuing under DNB and Maxis/Celcom expanding network density, telecom infrastructure equipment demand persists. Not the main business but provides incremental revenue diversification beyond core auto parts. Multi-segment positioning gives some downside protection if auto cycle softens
As EV charging utilization data comes through and SME lending book grows, the underlying value should crystallize. Watch the next QR for ChargeSini revenue trajectory and SME loan book quality metrics.
Quality of order book matters as much as size. INTA's recurring client roster includes Eco World, Gamuda Land, Sime Darby Property, Tropicana, top-tier Malaysian developers. Recurring contracts mean lower business development cost, faster mobilization, better margin negotiation power.
