# Northeast Group plans factory expansion from IPO proceeds

Northeast Group Bhd, a precision component manufacturer, plans to allocate 47.34% of its RM84.5 million IPO proceeds for construction of a new factory with 79,020 sq ft production floor space, and 14.65% for new machines to increase capacity.

- Type: Expansion
- Announced: 2024-10-14
- Where: Penang, Malaysia
- Status: announced
- Products: precision engineering components
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Northeast Group](https://endata.com/companies/80552.md)

## Sources

- [theedgemalaysia.com](https://theedgemalaysia.com/node/730252), 2024-10-22: "The bulk of the RM84.5 million in proceeds or 47.34% from the public issue will be allocated for the construction of a new factory that is expected to have a production floor space of about 79,020 sq ft"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.