Mega First turns to RE on expansion drive

“While exploring for new opportunities in hydropower projects, the packaging segment will be a key earnings driver for the group on the back of its massive capacity expansion in paper and flexible packaging, and also through the acquisition of a 75% stake in Stenta Film, ’’ PublicInvest Research said.

PETALING JAYA: Armed with a healthy balance sheet Mega First Corp Bhd (MFCB) plans to pare down debts further as it explores more renewable energy projects in South-East Asia as part of its expansion drive.

As it is, it has a low net gearing level of 0.26 times and after taking into account its yearly capital expenditure (capex) and dividend payouts, it has excess cash flow of at least RM200mil from the projected annual operating cash flow of at least RM500mil.