ViTrox Corporation Berhad

Type	Public limited company
Traded as	MYX: 0097
ISIN	MYQ0097OO004
Industry	Machine Vision OEM Electronics
Founded	2000
Founder	Chu Jenn Weng Steven Siaw Kok Tong Yeoh Shih Hoong
Headquarters	Penang , Malaysia
Area served	Worldwide
Products	Machine Vision, Post Seal Vision Inspection, Tray-based Vision Handler, Wafer Vision Inspection Handler, Advanced 3D Solder Paste, Advanced optical inspection, Advanced X-ray inspection, Advanced Robotic Vision, Integrated Industrial Embedded Solutions, 4.0 Manufacturing Intelligence Solution – V-ONE
Revenue	RM750 million (2022)[1]
Net income	RM33 million (2022) [2]
Number of employees	1,039+ (July 2023) [3]
Website	www.vitrox.com

ViTrox Corporation Berhad (MYX: 0097) is a Malaysian technology company headquartered in Penang, Malaysia.^[4] With a strong focus on machine vision and electronics, ViTrox specialises in the design and development of automated vision inspection systems and equipment for the semiconductor, printed circuit board assemblies, and electronics communication industries.^[5]

ViTrox's products include the Machine Vision System (MVS), Automated Board Inspection (ABI), Integrated Industrial Embedded Solutions, and Industry 4.0 Manufacturing Intelligence Solution – V-ONE.^[6]

The company was founded in 2000 by Chu Jenn Weng and Steven Siaw Kok Tong, who had studied together at University Sains Malaysia in the 1990s. Their first product was a 2D Mark Lead Vision System.  

As the company expanded, its operations shifted from a small rented space in Sungai Dua to Krystal Point Office, Bayan Baru. ViTrox's operations have since relocated to several locations.^[7]

History

ViTrox Technologies Sdn. Bhd. was officially established in 2000.^[8] As part of its expansion plans, ViTrox relocated its operations to the Krystal Point Office.^[9] ViTrox acquired a semi-detached factory in 2001.^[9] This move allowed the company to bolster its manufacturing capabilities and meet the growing demand for its advanced machine vision systems.

ViTrox received the "Golden Rim Award" in Taiwan in 2004.^[10] Additionally, ViTrox officially launched its 3D machine vision system.^[11]

In 2005, ViTrox was listed on the ACE Market (previously known as the MESDAQ Market) of Bursa Malaysia. As part of its expansion plans, ViTrox established the Electronics Communication Systems (ECS) division and introduced its 5-sided machine vision systems^[11]

In 2006, ViTrox relocated its operations to the ViTrox Innovation Centre in Bayan Lepas, Penang, and established its first overseas sales and support office in Suzhou, China.^[11] In 2009, ViTrox moved into the Automated X-ray Inspection (AXI) and Automated Optical Inspection (AOI) business, and established the Automated Board Inspection (ABI) Division. ViTrox also introduced the Advanced 3D Optical Inspection System (V510i 3D AOI).^[11] This expansion resulted in ViTrox operating four product groups: system integration and high-speed machine vision inspection systems, automated optical inspection, X-ray inspection, and integrated industrial embedded solutions. In the same year, ViTrox transferred its listing from the ACE Market to the Main Market of Bursa Malaysia.

ViTrox commemorated their tenth anniversary in 2010 with the groundbreaking ceremony of the ViTrox Innovation Centre (Phase 2).^[12] During this time, ViTrox established the Machine Vision System – Texas (MVST) division and launched the Advanced 3D X-Ray Inspection System (V810i 3D AXI).^[11]

In 2011, the company moved into its new building, the ViTrox Innovation Centre (Phase 2).^[13] Additionally, ViTrox launched the Tray-Based Vision Inspection Handler (TH1000i). The company was listed on Forbes Asia's 200 Best Under a Billion List.^[14]

In 2012, ViTrox received the Industry Excellence Award - Prime Minister Award.^[10]

In 2013, ViTrox organised the ViTrox Open Day & Million Hearts Charity Musical Concert.^[15] ViTrox received the Prime Minister's Award for Employer Excellence in the private sector.^[10]

In 2014, ViTrox opened the Centre of Excellence for Machine Vision, a centre for research and development.^[16]

The year 2015 marked the groundbreaking ceremony for ViTrox Campus 2.0 in Batu Kawan, Penang.^[12] ViTrox was again listed on Forbes Asia's 200 Best Under a Billion List.^[10]

In 2016, ViTrox signed a Memorandum of Understanding with the Malaysia Productivity Corporation^[17] and launched its Industry 4.0 Manufacturing Intelligence Solutions, V-ONE.^[13] In 2017, the company entered into a joint venture partnership to form Penang Automation Cluster Sdn. Bhd.^[18] Also that year, ViTrox set a record in the Malaysia Book of Records for planting the most amenity trees within 24 hours^[19] and received the "Highest Returns to Shareholders over Three Years" award in The Edge Billion Ringgit Club.^[13] Once again, ViTrox was listed on Forbes Asia's 200 Best Under a Billion List.^[10]

In 2018, ViTrox relocated its operations to ViTrox Campus 2.0 in Batu Kawan, Penang.^[20] The company launched the Advanced Robotic Vision (V9i).^[13] ViTrox again received the "Highest Returns to Shareholders over Three Years" award in The Edge Billion Ringgit Club.^[10]

In 2019, ViTrox moved into the Penang Automation Cluster (PAC)^[21] and opened offices in Germany, and Shenzhen, China.^[22] ViTrox signed Memorandums of Understanding with Universiti Tunku Abdul Rahman and the Centre of Goodness Studies.^[23] ViTrox once again was listed on Forbes Asia's 200 Best under a Billion List.^[24]

In 2020, ViTrox established its own education arm, ViTrox Academy,^[25] and also formed the ViTrox Agritech.^[19] In May 2021, ViTrox announced the acquisition of approximately 21.04 acres of land in Batu Kawan Industrial Park, Penang, as part of its ten-year expansion master plan.^[26] ViTrox was again listed on Forbes Asia's 200 Best under a Billion List.^[10] ViTrox made it in the Malaysian Book of Records in November 2021 by being awarded “The Most Number of Free Vegetarian Meals Served by a Company in 2019”.^[19]

In December 2021, ViTrox qualified to be added to the constituents of the FTSE4Good Bursa Malaysia (F4GBM) Index and the FTSE4Good Bursa Malaysia Shariah (F4GBMS) Index. This qualification came after meeting the globally recognized standards of FTSE Russell and Bursa Malaysia Securities Berhad.^[27] In the same month, ViTrox was honoured as the Company of The Year by The Edge Billion Ringgit Club.^[28]

In 2022, ViTrox maintained a FTSE4Good ESG rating with four stars under the technology industry classification benchmark for the second consecutive year.^[29] ViTrox was honoured with the silver award for "Most Improved Performance Over Three Years" at The Edge ESG Awards 2022 in the equity category for companies with a market capitalization of over RM5 billion.^[30]

ViTrox was recognized as one of Malaysia's Best Managed Companies for 2022 and 2023, an award sponsored by Deloitte Private.^[10] ViTrox was listed once again in Forbes Asia's 200 Best Under A Billion in 2023.^[31] In January 2023, the company was honoured with the "Malaysia Iconic Role Model Enterprise Awards".^[32] During the awards ceremony on 12 January 2023, ViTrox’s President and Group CEO Chu Jenn Weng was named the EY Entrepreneur Of The Year 2022 Malaysia.^[33]

As of April 2023, ViTrox achieved a score of 50% on the Corporate Sustainability Assessment by S&P Global, placing ViTrox in the top decile of companies in the Semiconductors & Semiconductor Equipment Industry.^[34]

ViTrox established ViTrox College, which received official accreditation from the Ministry of Higher Education. The college offers diploma courses aligned with industry-driven technical training programs.^[35]

Office locations

• Penang, Batu Kawan Industrial Park (Headquarter/ViTrox Campus 2.0)^[36]
• Malaysia, Cyberjaya, Selangor (ViTrox Vision Lab)
• China, Suzhou, Jiangsu (ViTrox Technologies (Suzhou) Co. Ltd)
• China, Shenzhen, Guangdong (ViTrox Shenzhen Demo Centre)
• United States, Hutto, Texas (ViTrox Americas Inc.)^[37]
• Germany, Lohr am Main, Sackenbach (ViTrox Deutschland GmbH)
• United States, Bend, Oregon (ViTrox R&D Site)
• United States, Boulder, Colorado (ViTrox R&D Site)

References

External links

• Automated machine vision inspection system provider - ViTrox
• ViTrox - Environmental, Social, and Governance (ESG)
• Company Overview of ViTrox Corporation Berhad, bloomberg.com