Lay Hong shares rise as production begins at new plant

KUALA LUMPUR: Shares of Lay Hong Bhd opened higher on Wednesday after the opening of its new food manufacturing plant in Pulau Indah.

The poultry and eggs company gained 9.76%, or four sen to 45 sen. It is one of the most active counters with 12.77 million shares done.

The plant is operated by NHF Manufacturing (Malaysia) Sdn Bhd, owned 51% by NH Foods and 49% by Lay Hong.

Covering an area of 1.85 hectares, the plant’s production capacity can be increased to 2,000 tonnes per month via expansion into phase two.

The joint-venture is optimistic about its long-term prospects due to the demand for its processed foods in the domestic and export markets, as well as the upcoming Tokyo 2020 Olympics.

The products under the Pulau Indah plant will be branded as Nippon Premium NutriPLus, which consist of Chicken Karaage (boneless diced thigh meat), Chiki-Chiki Bone (cut middle wing), Amakaraage (boneless whole thigh meat), Tebamoto Amakaraage (chicken drumette) and Chicken Menchi Katsu (boneless chicken meat and vegetables).