[Business Times] Daibochi targets customers in Australia

20 February 2012

Daibochi Plastic and Packaging Industry Bhd continues to target potential customers in Australia, as well as multinational customers in the food and beverage (F&B) sector, said managing
director Thomas Lim.

“We hope to begin supplying flexible packaging to them in the financial year 2012,” he said in a statement today.

The flexible packaging solutions provider also eyes revenue contributions from new sectors, namely, medical gloves and the electronics sector in the current financial year ending Dec 31, 2012.

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

Lim said: “The Group’s diversification into the non-F&B sector would be a strategic step towards enhancing our financial performance for the long term.”

For the financial year ended Dec 31, 2011, Daibochi posted a 10.3 per cent increase in group net profit to RM20.1 million, compared with RM18.2 million previously.

Meanwhile, revenue increased 6.2 per cent to RM284.2 million, from RM267.7 million previously. 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.

On prospects, Lim said, the company believed its entrenched premier position in the F&B and Fast Moving Consumer Goods (FMCG) sector would provide resilience in the ongoing global uncertainty.

“We intend to strengthen our collaboration with multinational
corporations, to have stronger foothold in the flexible packaging industry,” he added.

He also said raw material prices are largely anticipated to moderate in the current financial year, in view of the expected increase in global supply and need-based demand by manufacturers.

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News Room [Business Times] Daibochi targets customers in Australia