As the value of the company is tied to the performance of the company, it is in the interest of the warring shareholders to argue and fight outside the company.
KUALA LUMPUR: Home furniture maker, Wegmans Furniture Industries Sdn Bhd, is now operating at full capacity after the government ban on rubberwood exports last year.
Executive Director, Collin Law Kok Lim, said more than 50 per cent of the company's furniture was made from rubberwood and it experienced a severe raw material shortage before the ban.
“This resulted in a delay in products delivery where the standard industry waiting time was within two to three months.
“However, things are getting back to normal with the stable raw materials supply with the ban in place,” he told Bernama at the Malaysia International Furniture Fair (MIFF) 2018 here today.
Law said the company produced 190,000 chairs and and 480,000 tables annually.
Yesterday, Plantation Industries and Commodities Minister, Datuk Mah Siew Keong, reassured furniture industry players that the government would continue the rubberwood export ban to ensure an adequate raw materials supply.
On the furniture industry's outlook, Law remained positive as issues such as the supply of rubberwood and foreign labour has been resolved.
“Government policies, such as an allowance for increased exports and income exemption for increased exports, will certainly support the industry,” he said.
Established in 1999, Wegmans Furniture is also a wholly-owned unit of Wegmans Holdings Bhd
which recently debuted on Bursa Malaysia's Ace Market.
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