Corporate History

Scientex Incorporated Berhad (Scientex) was incorporated in Malaysia in 1968 under the Companies Act, 1965 as Scientific Textile Industries Sendirian Berhad to manufacture and market polyvinyl chloride (PVC) leather cloth and sheetings and was subsequently converted to a public company in 1969.

A year later, it changed its name to Scientex Industries Berhad. In 1990, Scientex Industries Berhad was successfully listed on the Main Board of the Kuala Lumpur Stock Exchange (now known as Bursa Malaysia Securities Berhad) and then changed its name to Scientex Incorporated Berhad (SIB) in 1995 to better reflect the Group's diversified activities. In March 2008, the Company changed its name to Scientex Berhad in line with the Group's new corporate identity.

Over the years, Scientex's businesses continued to expand and grow in strength. In January 2003, in line with its strategy to further expand the existing core businesses, Scientex undertook a Rationalisation Exercise whereby, it sold its packaging businesses to Woventex Corporation Berhad (WCB), namely Scientex Packaging Film Sdn Bhd (producer of stretch films), Scientex Resources Sdn.Bhd., Scientex Resources (Shanghai) Co., Ltd., and Scientex Containers Sdn. Bhd. (corrugated carton boxes). With this rationalisation exercise, WCB has effectively become the Group's packaging arm.

WCB was listed on the Second Board of Bursa Malaysia in 1996.

In January 2004, WCB assumed its current name, Scientex Packaging Berhad (SciPack). The Rationalisation Exercise was fully completed in March 2004. Its share capital increased from 40.0mil shares to 67.6 million shares of RM1 each. Scientex's stake in SciPack was effectively increased to over 62.6% from 40.4%.

In January 2008, Scientex made a general voluntary offer to SciPack's shareholders which will result in SciPack becoming a whollyowned subsidiary of Scientex.