Status: Active
Year Invested: 2023
Headquarters: Penang, Malaysia
​
Engtek is a market leader in aluminium die casting and precision engineering for diversified industries, including HVAC, semi-conductor, automotive, telecommunications and data storage. The company is headquartered in Penang with manufacturing sites in Johor, Penang and Manila. Engtek offers an end-to-end service across product design, prototyping, die casting, machining, testing, assembly and supply chain management.
​​
PrimeMovers Equity, along with co-investor Lingotto Investment Management, has acquired a majority stake in Engtek Group at approximately SGD150 million in June 2023.
​​
"The prospect of having PME and Lingotto joining us as strategic partners is immensely exciting. Their participation will enable us to realise our global ambitions and we intend to implement PME's tried-and-tested GTO™ framework, which is expected to take Engtek's operations to the next level."
Dato' Teh Yong Khoon, CEO and Chairman of Engtek Group
On 11 September 2024, Engtek celebrated its 50th anniversary.​ ​
"Engtek’s success is a testament to visionary leadership, a strong commitment to innovation, and teamwork. Your journey is not just a business success story – it is an inspiration for all of us. On behalf of the Penang government, I extend my heartfelt congratulations to Engtek Group on this incredible milestone. May the next 50 years bring even greater success and innovation. We look forward to continuing our partnership and sharing in the prosperity ahead.” Chow Kon Yeow, Penang Chief Minister. ​
"Our partnership with NAMIC will not only enhance our technical expertise but also allow us to explore new applications and commercialize innovative additive manufacturing (AM) solutions across the region. Together, we will shape the future of manufacturing."
Dato' Teh Yong Khoon, 15 October 2024
