The Star, 30 March 2007
MD: Global slowdown not hurting Scientex
By KATHY FONG

SUBANG JAYA: The possible global economic slowdown will not have a big impact on Scientex Inc Bhd's export business in the current financial year ending July 31, said managing director P.J. Lim.

“The industries that we are in are still showing growth in the Asia-Pacific,” Lim told reporters after the company EGM yesterday.

Main board-listed Scientex's four core businesses are property development, industrial packaging, polymer and auto parts, and chemicals.

The group exports industrial packaging products like woven bags and motor vehicle interiors to over 60 countries.

It has operations in Malaysia, Vietnam and Japan.

Lim said the demand for industrial packaging products would be strong, given that they were the “basic things” for logistic purposes.

“The increase in trading volume will help drive demand for packaging products,” he added.

Lim also said the launches of new car models would generate orders for the group's auto interiors such as car seats, dashboards and carpet mats.

“We hope to maintain the earnings growth we have been achieving over the past few years despite the slowdown in the global economy,” he added.

On the property development division, Lim said Scientex was targeting to launch 300 to 400 units on newly acquired land near Kulai.

On March 8, the group's wholly-owned subsidiary Scientex Quatarai Sdn Bhd bought 101.25ha in Mukim of Sedenak for RM33mil.