UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.
KUALA LUMPUR: Bursa Malaysia Securities has frozen the upper limit for the warrants of thermoform food packaging maker SCGM Bhd
on Friday after it hit limit-up the previous day.
The regulator said the upper limit for the SCGM-WA counter was capped at 60.5 sen. The lower limit price was 30.5 sen.
On Thursday, the counter surged 30 sen to 60.5 sen.
The company announced that it plans to invest RM133mil in new factories in the Klang Valley and Kulai in Johor as it seeks to raise its production capacity.
It plans to increase the output by 88% to 67.6 million kg by the end of the financial year April 30, 2019 (FY2019).
SCGM said the capex plan was part of its two-year expansion as it seeks to expand its market share, in anticipation of a strong demand in the local and regional markets.
The company's factories are in Kulai, Johor, with a total production capacity of 36 million kg per year and includes lunchboxes, food trays, and medical trays.
SCGM said it was setting up its first Klang Valley factory to supply the central peninsula market. The rented Klang Valley factory is slated to begin operations in end-2017.
It also said its new factory in Kulai was under way and it was expected to be completed by end-2018.
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