LIMAHSOON expects RM10.7m pre-tax profit
New Straits Times,
29 June 2004
LIMAHSOON Bhd, which is en route to a listing
on Bursa Malaysia Bhd, expects to achieve a pre-tax profit
of RM10.7 million for the year ending December 31 2004 on
the back of RM47.3 million in turnover.
The company's managing director Lim Chong Khim said in a
statement that LIMAHSOON is confident of meeting the forecast,
which is almost a 32 per cent increase over the RM8.1 million
recorded in 2003.
"We are confident that we can achieve positive growth
over the next few years.
"In line with this, we have put in place strategic
expansion plans to increase our production capacity and
tap international markets," he said.
The integrated manufacturer of laminated boards is currently
growing at about 1.7 per cent annually and commands a market
share of 8 per cent.
LIMAHSOON is making a public issue of 16.4 million new shares
at 50 sen each.
The company said a portion of the listing proceeds will
be used to expand the company's factories and buy new machinery.
The total gross proceeds of the rights and public issue,
amounting to RM24.72 million, will be used for capital expenditure,
repayment of bills, working capital and listing expenses.
Link captured from: www.btimes.com.my
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