Nanofilm appoints new chief commercial and strategy officer; says confident of growth outlook

MAINBOARD-LISTED Nanofilm Technologies International has appointed Gian Yi Hsen as chief commercial and strategy officer with effect from Jan 1, 2022, it said in a statement on Monday (Dec 20).

Gian will oversee Nanofilm's key commercial activities including global business development, commercial strategy and inorganic growth. He is currently the group's deputy CEO as well as chief strategy and planning officer.

The tech manufacturer also provided a business update for the fourth quarter ended Dec 31, noting that it has incurred plant and equipment qualification costs.

"These investments are expected to benefit (Nanofilm) in the longer term as they prepare the group to meet the increasing demand for its advanced materials and nanofabrication solutions," it said.

Executive chairman and former CEO Shi Xu said that Nanofilm is "confident of (its) growth outlook". He added that the group has a strategy in place to accelerate the commercialisation and increase adoption of its nanotechnology solutions across multiple existing and new areas.

Nanofilm added in the business update that its consumer electronics, communication and computers segment saw a rebound in production output following the commencement of its peak period in the fourth quarter. Momentum is expected to be carried on to the first quarter of FY2022.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Production for its micro lens array (MLA) project for new generation wearables is also "progressively ramping up according to schedule", the company said. It is expected to contribute positively to Nanofilm's Nanofabrication Business Unit in the fourth quarter of this year and beyond.

The group also noted that its Industrial Equipment Business Unit has a visible order book going into FY2022, while Sydrogen Energy - its joint venture (JV) with Venezio Investments - works on its research and development (R&D) capabilities in its centres in Shanghai and Singapore.

Nanofilm added that it will be accelerating its efforts to develop core technologies and new product offerings, maintaining its investment in R&D and Engineering to more than 5 per cent in revenue. Over the last 3 financial years, the group clocked approximately 5.9 per cent in revenue per year in R&D and engineering expenses.

Additionally, the group said it intends to invest in cutting-edge technology ventures that can have direct synergies to its core business. It will look for companies that can leverage on, or combine with, Nanofilm's proprietary deep technology capabilities to create new applications and products.

The group is also planning to streamline its management organisational structure, following the appointment of Gary Ho as group CEO and Gian as chief commercial and strategy officer.

Shares of Nanofilm closed at S$3.720 on Monday, down 16 Singapore cents or 4.1 per cent.