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In Vietnam | | | We
have also proudly completed the construction of the factory in Vietnam under our
subsidiary, Kinsplastic Vietnam Co., Ltd. This new RM22 million plant is manufacturing
products to compliment the increasing demand for our products from overseas customers
particularly to penetrate into the lucrative US market where heavy anti-dumping
duty up to 88% has been imposed on the importation of plastic bags from the Malaysian
plastic manufacturers. It also serves as our platform to supply the domestic market
with a total population in excess of 80 million and a strong GDP growth of 7%
to 8% in the recent years.
This plant which commenced only in June 2007
has made significant breakthrough in securing new businesses and is beginning
to show considerably positive earning impact.
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