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The Editor
Managing Editor
Cambodian Online
Information
24-Aug-2005
Last Edited
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BY ZAZALI MUSA IN BATU PAHAT
HPI Resources Bhd plans to position itself as the leading integrated packaging company in Cambodia within the next few years.
Group managing director Albert Chan Chor Ngiak said prospects in the Cambodian packaging industry were good as there were not many big players there.
He said presently there were only two major players in that country – HPI’s subsidiary Harta Packaging Industries (Cambodia) Ltd (HPICL) and a firm from Taiwan. However, the Taiwanese company only made corrugated carton boxes while HPICL produced both carton boxes and plastic film packaging, he added.
“We are now conducting a trial run at our Cambodia plant and it will start production next month,” he told StarBiz after the company’s AGM yesterday.
Chan said the Johor-based company had invested between RM15mil and RM18mil in the plant, which planned to employ some 150 workers.
He said the company would not cut production of both products at its Malaysian plants as the Cambodian unit catered solely for that country.
Chan said HPICL would supply to some 250 garment-related, shoes, food and beverage and brewery companies that were export oriented and owned mostly by investors from China, Hong Kong, Malaysia, Taiwan, South Korea and Singapore.
“Demand for packaging products is expected to increase further when more foreign manufacturers come to Cambodia,” he added.
For the financial year ended May 31, the company reported an increase in turnover to RM170.90mil from
RM143.63mil in 2003. Pre-tax profit stood at RM56,000 against a RM4.64mil pre-tax loss previously.
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