Signed and sealed: China Stationery Ltd executive chairman Chan Fung @ Kwan Wing Yin (left) and Pelikan chief executive officer Loo Hooi Keat after a dealersigning ceremony to distribute and sell Pelikan products in China and Hong Kong.
KUALA LUMPUR: Pelikan International Corp Bhd
could be back in the black by the first quarter next year as the painful provisions it took to scale back the business are at an end, said chief executive officer Loo Hooi Keat.
The stationery-based firm, which derives some 85% of its sales from its struggling European operations, posted a net loss of RM101.3mil in the financial year ended Dec 31, 2011 from a profit of RM130.79mil in 2010.
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