inTEST establishes Southeast Asia Center of Excellence in Penang, Malaysia; leases 25k sq ft facility

INTEST CORP

Leased 25,000 sq ft facility in Penang, Malaysia for RM65,000/month over 3 years starting April 1, 2024; option to extend 2 years.
Facility will co-locate sales, engineering, service, and manufacturing for all three divisions (Acculogic, Ambrell, EMS, ITS, Videology).
Asia-Pacific currently represents ~35% of inTEST's revenue, primarily from US-based customers.
Company plans to hire additional staff in the region to build local capabilities.
CEO: This is the first Center of Excellence, part of geographic expansion strategy to be closer to customers in Asia.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

INTEST CORP entered into Lease Agreement with PERFECT PRESS SDN BHD valued at Ringgit Malaysia sixty-five thousand (RM65,000) monthly for three years; security deposit liquidated (effective 2024-04-01).

Action: entry
Agreement: lease
Counterparty: PERFECT PRESS SDN BHD
Value: Ringgit Malaysia sixty-five thousand (RM65,000) monthly for three years; security deposit liquidated
Effective: 2024-04-01

Exact text from the filing

On December 4,2023, inTEST SE ASIA SDN BHD (“inTEST Asia”), a newly-formed subsidiary of inTEST Corporation (the “Company”), entered into a lease agreement (the “Lease”) with PERFECT PRESS SDN BHD (the “Landlord”) for a 25,000 square foot facility located in Simpang Ampat, Pulau Pinang, Malaysia.

View on SEC.gov

Browse all material agreements →

INTEST CORP filing history →

Source: SEC EDGAR

accession 0001437749-23-033729

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.