Thong Guan group managing director Datuk Ang Poon Chuan told StarBiz the company’s planned venture into Myanmar, a low-cost production country, is in line with its aim to grow its plastic packaging material business as well as enhance its competitive edge in the industry.
GEORGE TOWN: Thong Guan Industries Bhd
has earmarked RM150mil as capital expenditure (capex) for the next two years to expand its business in Malaysia and overseas.
Of the planned capex, the packaging firm said it would invest about RM30mil to RM40mil to build a new plant in Myanmar. The remainder would be used for its Malaysian factory lines to produce stretch films and specialty mailer bags, as well as to install machinery for the manufacturing of food and beverage packaging products.
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