"Looking ahead, we are confident that EG Industries will continue to achieve strong growth in FY2025, driven by robust demand for our advanced high-speed optical modules and AI modules," he said in a statement.

"The recent agreements we’ve secured, including a second Letter of Intent for the exclusive production of next-generation optical modules and a confirmed US$117 million (RM520.3 million) purchase order for 5G photonics-related products, highlight our strategic positioning in the expanding wireless networking technology market.

"With our Smart Factory 4.0 in Batu Kawan coming online in the first quarter of 2025, we anticipate further opportunities to secure additional purchase orders from both our existing key customers and new customers," he added.

EG Industries’ share price rose three sen to close at RM2.03 on Friday, giving the group a market capitalisation of RM915.99 million. The stock has jumped 55 sen or 37.2% since the start of the year.