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This week, i Capital initiates coverage on Coraza Integrated Technology Berhad (Coraza), which was listed on the ACE market of Bursa Malaysia in January 2022. Coraza is a provider of integrated engineering solutions, specializing in sheet metal fabrication, precision machining, and electromechanical assembly. The company has a strong track record of delivering high-quality products and services to various industries, including semiconductors, instrumentation, life sciences, medical devices, telecommunications, and aerospace.

2 Core Business Segments

Coraza operates through two core business segments:

(i) Fabrication & Sheet Metal (FSM): This segment encompasses the end-to-end production of precision sheet metal components, including cutting, bending, forming, welding, and surface finishing. The process transforms raw metal sheets into custom-engineered parts and struct