• Malaysia stock market and companies daily report (September 07, 2015)

    - Armed with some RM23 million of cash, SLP Resources, a plastics packaging company, plans to establish a new RM25 million manufacturing facility adjacent to its present plant in Kulim.

    - Despite the fall in domestic demand for packaging materials, the group is seeing a rise in overseas demand, as the gap between the prices of Malaysian-made packaging materials and Chinese-made ones are closing, due to a rise in production cost in China.

    - The firm also expects the increasing demand for plastic packaging in the healthcare industry to be one of the key factors driving the growth of this market and plans to ride on Maxinflax, its own brandname of thin-gauge packaging materials, to spearhead its growth.

    Significance: The new plant is being planned to accommodate seven new production lines that will raise the groupís annual output to 38,000 tonnes in two to three years from 24,000 tonnes, which will help cater to rising foreign demand. Additionally, new automated production lines will also reduce its workforce in the packing division, enabling it to deploy them in other work areas.

    Contributed by Shares Investment
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