Description

ISTONE is principally involved in the manufacturing automation business segment with a focus on specialised automation machines used in automating manufacturing processes.

Fundamentals

The pandemic has created opportunities whereby manufacturers turn to automation to reduce their reliance on manpower in their manufacturing and production process as hiring foreign workers remains challenging during this period. As a result, the group has observed an increasing demand from manufacturers to automate their production capabilities which resulted in a surge in ISTONE's automation projects. Also, the group has appointed Dato’ Awang Daud bin Awang Putera as its new chairman and intends to leverage on the newly appointed chairman’s networking to venture into new industry such as oil and gas.