PETALING JAYA: The shareholder of Peterlabs Holdings Bhd seeking to change its board composition said he has a four-pronged strategy to increase the profitability of the firm.
Lau Kin Wai, of Fatfish Venture Sdn Bhd, said the plan is to boost the ACE Market company’s research and development, corporate communication, international sales and to revamp the management with the right talent. “AI (artificial intelligence) farming is a big growth area and this is something Peterlabs get into and provide its existing client base. International sales, which is only a small portion of revenue now, has a lot more room for growth,” said Lau.
He added that the plan was also to “increase the company’s visibility through frequent communication between the company and stakeholders, including investors.”
“The animal feed industry in Malaysia is saturated. In order to grow further, the company must look to export its products overseas”. He also pointed out that the company gave its shareholders an average dividend yield of only 2.5%, with hardly any capital appreciation in the stock’s share price.
Peterlabs in a stock exchange filing said that the board is seeking legal advice on the matter and that further developments on the matter would be announced in due course.
Fatfish Ventures, the local vehicle of Internet venture accelerator Fatfish Internet Group Ltd, first emerged in Peterlabs with its 7.7% stake in April 2017. Following that, Lau was made an executive director in January 2018. Lau, in an interview with StarBiz last year, said the long term plan for Fatfish was to raise its stake in Peterlabs and gain control of the company. Listed on the ACE Market in 2011, Peterlabs manufactures, distributes and trades animal health and nutrition products.
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