Thong Guan to increase capital expenditure by a third,sees foreign demand

GEORGE TOWN: Packaging firm Thong Guan Industries Bhd is increasing its capital expenditure (capex) by about a third next year to boost output from its plants on expectation of higher demand from overseas.

Group managing director Datuk Ang Poon Chuan said the investment will raise the group’s production capacity to about 150,000 tonnes per annum next year from 132,000 tonnes this year.