Diversified Nylex Malaysia Bhd. of Malaysia said it plans to dispose of its glasswool insulation operations in the Philippines.
Group managing director Heah Kok Soon said the division“s business has…
Diversified Nylex Malaysia Bhd. of Malaysia said it plans to dispose of its glasswool insulation operations in the Philippines. Group managing director Heah Kok Soon said the division“s business has taken a hit in the intensely competitive regional market. The group“s glasswool insulation operations are managed by Asia Pacific Insulation Corp., which is incorporated in the Philippines. At the group“s recent annual general meeting, shareholders approved a proposal to dispose of Nylex“s wholly-owned subsidiary, Kuala Lumpur Glass Manufacturers Company Sdn. Bhd., to Fraser & Neave Holdings Bhd. for M$ 60 million.