JOHOR BARU: Equator Life Science Bhd is entering more new markets as part of its strategy to strengthen its position in the ornamental plant market internationally.
Managing director Murphy Koh Yueh Leong said the company would be penetrating new Eastern European countries namely Poland, Rumania and Ukraine this year.
He said the company had successfully entered Australia, China and a few Eastern European countries, namely Hungary, Slovakia and the Czech Republic last year.
We are going to Middle East and Russia next year and South Africa and North America probably in a year or two, Koh told StarBiz after the companys AGM recently.
He said the Eastern European countries offered good growth opportunities, as the demand for ornamental plants and flowers there was still small.
In addition, there is still room for growth in the Eastern European countries as they are now part of the European Union, he added.
He said Western European consumers spent an average of 100 euros per head on plants or flowers per year whereas Eastern European consumers spent 20 euros.
Koh said marketing of the plants in Eastern Europe would be undertaken by the companys 70% subsidiary Equator Europe BV based in the Netherlands.
Apart from our existing ornamental plants, we are planning to diversify our products to include flower plants, Koh pointed out.