[Bernama] Daibochi Expanding Ventures To Australia, Asean
21 June 2011
MELAKA, June 21 (Bernama) — Daibochi Plastic and Packaging Industry Bhd is eyeing Australia and Association of South-East Asian Nations for expansion to increase revenue in the face of a steep increase in the prices of raw materials.
Its managing director, Thomas Lim Soo Kim, said the company expected its revenue to increase by 30 per cent in two years as the packaging market in Australia was 10 times bigger than Malaysia’s.
“Malaysia and Australia have about the same population currently (about 27 million) but Australia offers better business opportunities,” he told a media briefing at the company’s annual general meeting here Tuesday.
The company currently has a warehouse and office in Australia, he said.
Lim said escalating prices of raw materials and oil were a concern.
“So the company has to focus on the search for revenue and high-end specialty packaging business,” he said.
Its chairman, James Edwin Pushparatnam, said the packaging segment remained the major revenue contributor with RM244.9 million in financial year 2010, up 12.6 per cent from RM217.4 million previously.
“This is mainly due to higher sales in the food and beverage, fast-moving consumer goods and speciality sectors in the domestic and overseas markets.
“The property segment contributed RM22.8 million in the year under review, a significant increase from RM4.3 million in FY2009, from the development of commercial properties in Melaka,” he said.
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