Asia File Corp Bhd plans to launch four new filing and stationery products for students and office use in June, according to its group executive chairman Michael S.H. Lim.
Previously, our main focus was on producing filing and stationery products for office use. This year, our strategy is to tap the needs of students in the country, Lim told StarBiz in Penang.
Lim said there would be two types of products developed for this market.
There will be a range of uniquely designed filing and stationery products targeting the younger age group. The other range caters to their daily practical needs, he said.
He added that both types of products, which would be exported and sold within the country, would be of high quality and affordably-priced.
According to Lim, the group had secured many new customers, wholesalers and distributors of office filing and stationery products since August last year.
He said Asia Files new customers were from countries such as Ivory Coast, Panama, Kenya, Israel, Ethiopia, Syria, Mauritius, Croatia, Czechos-lovakia, Portugal, and Germany.
He said some of the orders from the new customers were reflected in the financial results of Asia File for the third quarter ended Dec 31, 2002. As a result, there was about 25% increase in the pre-tax and after tax profits of this recent third quarter compared with the previous corresponding period, he added.
For the third quarter ended Dec 31, 2002, Asia Files pre-tax profit was RM7.01mil compared with RM5.83mil in the previous corresponding quarter. Its profit after tax was RM5.47mil from RM4.79mil previously.
Because of our new (export) markets, we expect the performance of the fourth quarter ended March 31 to improve also, he said.
According to Lim, the group currently had two types of overseas customers.
He said for the US, Japan and European customers, Asia File provided original equipment manufacturing services by cooperating with them on project-to-project basis.
For our customers from the developing and semi-developed countries, we concentrate on exporting our brand names of filing and stationery products such as ABBA, Premier, Paperex, Tomorrow, and Docuseal, he added.
Asia File, listed on the KLSE main board, exports to 68 countries. It operates from a 336,000 sq ft manufacturing facility in the Bayan Lepas Industrial Zone.
The company also has factories in Jalan Sungai Pinang and Bukit Minyak, as well as warehouses in Penang, Johor, and Kuala Lumpur.
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