21 February 2012

KUALA LUMPUR: Daibochi Plastic and Packaging Industry Bhd is making inroads into the medical glove and electronic sectors.

It expects to record maiden revenue from the new sectors in the current financial year ending December 2012.

Daibochi managing director Thomas Lim is optimistic about the group’s performance this year.

“Our diversification into the non-food and beverage (F&B) sectors would be strategic step towards enhancing our financial performance for the long term,” he said in a statement yesterday.

Lim said the company will continue to target potential customers in Australia, as well as multinational customers in the F&B sector.

“We hope to begin supplying flexible packaging to them this year,” he said.

Lim said Daibochi had made significant progress in the past financial year, in testing and certifying its flexible packaging with local medical gloves and electronics manufacturers abroad.

For the fiscal year ended December 31 2011, Daibochi posted a 10.3 per cent increase in net profit to RM20.1 million, from RM18.2 million previously.

Group revenue rose 6.2 per cent to RM284.2 million, from RM267.7 million before.

The higher revenue was attributed to the packaging segment, which saw a 9.4 per cent increase to RM267.9 million in the 2011 financial year.

The company believes its entrenched premier position in the F&B and fast-moving consumer goods sectors would provide resilience in the ongoing global uncertainty.