KUALA LUMPUR (Dec 10): Automotive lighting product manufacturer JHM Consolidation Bhd (KL:JHM) said its 52%-owned subsidiary JHM Dekai Auto Lighting Sdn Bhd has bagged contracts worth RM300 million from Perusahaan Otomobil Nasional Sdn Bhd (Proton) to supply parts for specific Proton car models.

In a filing with Bursa Malaysia on Tuesday, JHM said the supply of parts is expected to commence in the late third quarter of the financial year ending Dec 31, 2025 (FY2025) and will continue for a duration of five years.

"The [contracts are] expected to contribute to the earnings of JHM Group over a period of five years commencing from FY2025," it added.

For the first nine months ended Sept 30, 2024, JHM swung into the red with a RM25.65 million net loss, from a RM13.85 million net profit a year ago, due to underutilised capacity, lower absorption of fixed costs, and higher foreign exchange losses of RM5.3 million.

At 2.39pm on Tuesday, shares of JHM were up 5.5 sen or 13.58% at 46 sen, valuing the group at RM278.76 million. The stock has fallen 36.11% year to date.