Ancom Bhd has announced plans to transform Nylex (Malaysia) Bhd into a formidable player in the polymer and engineering businesses in Asia following it“s acquisition in August 1999.
Managing direct..
Ancom Bhd has announced plans to transform Nylex (Malaysia) Bhd into a formidable player in the polymer and engineering businesses in Asia following it“s acquisition in August 1999. Managing director Ahmad Johari Abdul said the group aimed to capture a larger market share in the local as well as regional utility and petrochemical sectors. A comprehensive review of Nylex“s present businesses is to be carried out before any changes are made. Nylex is a producer of polymer and electrical engineering products in the region. “Businesses which are non-core may be divested if there are suitable offers,” said Johari. To date Nylex subsidiary KL Glass Manufacturing Company Sdn Bhd, the second largest glass container manufacturing outfit in Malaysia has been divested to enable Nylex to expand its core businesses. For the second quarter ended 30 November 1999, Ancom posted a group pre-tax profit of RM 7.6 million compared with RM 2.58 million previously.