
FEYTECH Holdings Bhd has secured a long-term contract through its wholly owned subsidiary Gosford Leather Industries Sdn Bhd to supply seat covers for an upcoming Proton model.
The contract from Perusahaan Otomobil Nasional Sdn Bhd is expected to start in the fourth quarter of this year and run for 84 months, generating about RM96.83 million in revenue over the period.
The group said the project is expected to contribute positively to earnings and net assets throughout the contract duration, with no unusual risks beyond normal automotive supply operations.
It also noted that no directors, major shareholders or connected persons have any interest in the deal.
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