Malaysian packaging firm SCGM investing $3 million in new production

By Gurdip Singh
Correspondent

Published: July 14, 2014 3:56 pm ET
Updated: July 14, 2014 3:59 pm ET

Related to this story

Topics Asia, Beverage

KUALA LUMPUR, MALAYSIA — Malaysian disposable packaging manufacturer SCGM Bhd is investing 10 million ringgits ($3.12 million) in a plastic cup manufacturing line.

The company said it will get the machine from Italy and molds from Germany to produce more than 800 cups a minute, or about 1.3 million a day. The line is scheduled to start production in November.

SCGM Chairman Lee Hock Seng said the new equipment will boost sales by 10 percent.

Raw material prices were expected to remain fairly stable in the current year, Lee said in the latest filing with Bursa Malaysia.

“However, inputs such as oil and power are expected to have some impact on the margins in 2015. As such, we are expecting the profits to be at least maintained going forward to the next quarter as the global economy is expected to recover gradually.

“Marketing expansion plans for the overseas markets is continuing, particularly, to Asian countries. The new product line, plastic cups, will also help to support profit margins,” Lee said.

SCGM reported a net profit of RM11.53 million ($3.6 million) for the year ended April 30, up 45 percent from a year ago.

Sales rose to RM100.3 million ($31.25 million) from RM97 million ($30.22 million).


Comments

Malaysian packaging firm SCGM investing $3 million in new production

By Gurdip Singh
Correspondent

Published: July 14, 2014 3:56 pm ET
Updated: July 14, 2014 3:59 pm ET

Post Your Comments


Back to story


More stories

Image

Thailand's SCG Chemicals buying Norwegian chemical firm Norner

December 19, 2014 9:11 am ET

Thailand's SCG Chemicals Co. Ltd. has announced it has acquired 51 percent of the shares in the independent petrochemical company Norner Holding AS...    More

Image

BASF to sell its share in Singapore JV

December 19, 2014 8:37 am ET

BASF SE has announced that it has reached an agreement for it to sell its share in the 50-50 joint venture ELLBA Eastern, at Jurong Island, Singapore ...    More

Image

Amcor buys Chinese flexible packaging plant

December 18, 2014 1:47 pm ET

Australian-based global packaging company Amcor Ltd. is buying a Chinese flexible packaging business for 211 million RMB (US$31.4 million).    More

Image

Indian auto parts maker set to buy assets in Germany, Mexico

December 18, 2014 10:35 am ET

Indian auto parts maker Samvardhana Motherson Gropup is buying the assets of insolvent German plastics car parts producer Scherer & Trier (S&T).    More

Image

Bayer launches PC sheet production in Guangzhou, China

December 17, 2014 6:00 am ET

Bayer MaterialScience (BMS) has started its new polycarbonate sheet production plant at its Guangzhou, China, site.    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events