LUXCHEM (5143) - Luxchem eyes 10% revenue growth this year
Wednesday, 29 May 2013
KUALA LUMPUR: Luxchem Corp Bhd, an investment holding company, is eyeing a revenue growth of 10% for 2013.
Last year, the company recorded a revenue of RM496.918mil.
Managing director and chief executive officer Tang Ying See said this year, the company would continue to expand its product range as well as develop more high-quality products.
He added that since establishing a subsidiary in Indonesia in 2011, the company had been expanding its customer base there. “This continues to enhance our group’s performance,” he told Bernama after Luxchem’s AGM here yesterday.
Tang said the company’s unsaturated polyester resin plant in Malacca would increase production capacity by 50% by year-end. “This is to support the growing demand for our product. This year would be a challenging one for us, with fluctuating raw material prices, as well as volatility in the dollar-to-ringgit exchange rate,” he added.
He said there was a slight drop in revenue and post-tax profit in financial year 2012, mainly due to a price downtrend, as well as uncertainty in the European and Chinese markets. – Bernama
Wednesday, 29 May 2013
KUALA LUMPUR: Luxchem Corp Bhd, an investment holding company, is eyeing a revenue growth of 10% for 2013.
Last year, the company recorded a revenue of RM496.918mil.
Managing director and chief executive officer Tang Ying See said this year, the company would continue to expand its product range as well as develop more high-quality products.
He added that since establishing a subsidiary in Indonesia in 2011, the company had been expanding its customer base there. “This continues to enhance our group’s performance,” he told Bernama after Luxchem’s AGM here yesterday.
Tang said the company’s unsaturated polyester resin plant in Malacca would increase production capacity by 50% by year-end. “This is to support the growing demand for our product. This year would be a challenging one for us, with fluctuating raw material prices, as well as volatility in the dollar-to-ringgit exchange rate,” he added.
He said there was a slight drop in revenue and post-tax profit in financial year 2012, mainly due to a price downtrend, as well as uncertainty in the European and Chinese markets. – Bernama
