Wednesday, January 2, 2013

20130102 1014 Malaysia Corporate Related News.

Daibochi eyes value-added products
Daibochi Plastic and Packaging, a manufacturer and converter of flexible packaging within Asean, is looking at penetrating the higher value-added medical gloves and electronic markets. Managing director Thomas Lim said that the company has begun supplying small quantities of flexible packaging (also known as flexpack) to medical gloves manufacturers in Malaysia, and has undertaken testing and trials worldwide for electronics packaging. (Financial Daily)

Adventa plans acquisition
Medical products and devices manufacturer and distributor Adventa plans to acquire investment holding company PTM Progress Trading & Marketing SB for a total cash consideration of RM7.5m. In a statement to Bursa Malaysia, Adventa said the acquisition, which was expected to be completed in two months, would enable its subsidiaries to utilise PTM's property as warehouses for the group's distribution and dialysis business. PTM is the beneficial owner of an industrial land in Subang. (StarBiz)

YNH guides for flat growth next five years
In anticipation of lacklustre new real estate sales in the immediate to medium term, YNH Property has guided for flat profit growth in the next five years. Head of corporate services Daniel Chan said the Perak-based developer expected to register a net profit of RM50m annually over the period as the company’s “property sales are not so good”. (Financial Daily)

Tambun Indah to launch more projects in Penang
Property developer Tambun Indah Land targets to launch at least five new projects in the first half of this year, with a total gross development value (GDV) of RM252.9m. All of the projects will be in Penang, where the company has been active in recent years and will continue to do so, as it taps into the growing Penang property market. The company is actively looking for new land banks in the Klang Valley and other areas where it can develop future projects, either on its own or in collaboration with joint-venture partnerships. (BT)

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