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Higher demand from US to spur HeveaBoard turnoverBy DANNY YAP in SerembanHEVEABOARD Sdn Bhd’s subsidiary HeveaPac Sdn Bhd is confident of achieving RM40mil turnover for its current financial year ending Dec 31, 2002 due to the increase in demand for the company’s furniture overseas, especially from the US. HeveaBoard managing director Tenson Yoong said the company chalked up an impressive turnover of RM30mil in the nine months of operation this year and was on track to achieve the targeted turnover. The company had a turnover of RM6mil last year. “We managed to secure a big contract from the US earlier this year,” Yoong told reporters after the launch of HeaveaPac’s RM15mil ready-to-assemble (RTA) furniture factory in Seremban by Primary Industries Minister Datuk Dr Lim Keng Yaik yesterday. The company was set up two years ago as a downstream business of HeaveaBoard and is involved in the manufacturing of RTA furniture made from rubber wood residues – a waste product derived from timber and the wood industry. HeaveaBoard currently supplies about 30% of its particleboard to HeveaPac to manufacture its RTA furniture. “The demand for RTA furniture increased significantly this year after we embarked on an aggressive campaign to capture a bigger slice of the US furniture market,” said Yoong, adding that the demand should continue so long as the company’s RTA furniture remained competitive. He said HeveaPac’s continued involvement in the Malaysian International Furniture Fair and various overseas exhibitions had helped the company gain stronger recognition as a reputable player in the global furniture market. He also said HeveaPac was committed to investing in research and development to produce innovative and value-added products at competitive prices. Besides the US, the company exports RTA furniture to Japan, India, Africa and France. HeaveaBoard will be setting up a second production line at RM150mil in its particleboard-making factory in Gemas, Negri Sembilan by 2005. |
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12 November 2002
MTC’s
