Europe a growth pillar for Thong Guan

PETALING JAYA: Thong Guan Industries Bhd’s expansion into Europe is set to bode well for the stretch film manufacturer, as the region has been driving its growth over the past six years.

It was noted by CGS-CIMB Research that Thong Guan’s exports to Europe increased from RM46mil in financial year 2017 (FY17) to RM148.1mil in FY21, raising the region’s sales contribution from 5.5% in FY17 to 12.2% in FY21.