Daibochi makes new inroads into Indonesia [PRESS RELEASE]
04 May 2017
- Commenced exports of consumer packaging to Indonesia’s food and beverage (F&B) sector in 1Q17; more new contracts in the pipeline
- 1Q17 revenue grows 4.9% year-on-year to RM94.1 million on stronger export sales to ASEAN & Australia
- Secured approval for Myanmar joint venture on 28 April 2017; expected to contribute significantly effective 3Q17
- Declares first interim single tier dividend of 1.32 sen per share in respect of the financial year ending 31 December 2017 (FY2017)
Melaka, Malaysia, 4 May 2017 – Leading flexible packaging manufacturer Daibochi Plastic and Packaging Industry Berhad (Daibochi; 耐慕志; Bloomberg: DPP:MK; Reuters: DPPM.KL) is set to see higher exports to Indonesia’s burgeoning consumer market on the back of new contracts to major F&B and fast moving consumer goods (FMCG) companies.
Daibochi commenced supply of consumer packaging to a new large regional customer in the first quarter of 2017 (1Q17), renowned for its home-grown Indonesian F&B brands. The Group is also conducting trial production runs for a multinational company for its FMCG products in Indonesia, and targets to commence supply in the second half of 2017.
Mr. Thomas Lim (林树坤), Managing Director of Daibochi Plastic and Packaging Industry Berhad said:
“The latest contract awards from leading companies to supply flexible packaging for the Indonesia market effectively catapults us into a new phase of exciting opportunities. We strive to expand our clientele in the world’s fourth most populous nation, and are confident of growing exports to Indonesia into a significant contributor to group revenue.
Indeed, our newly-expanded Daibochi Plant 2 not only accords us larger capacity to serve the growing requirements of our customers, but also to pursue new growth opportunities. In this regard, we continue to strive for regional expansion through more partnerships with growth-focused companies.”
Read the full press release here.
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